Insights on Cryptocurrencies by Ian King

Given the current craze around cryptocurrencies, especially Bitcoin, it comes as a surprise to some that barely five years ago very few people had information regarding this sector. Back then, it was dubbed, the new thing; and it still is. Cryptos would eliminate the need for central banks, while the underlying blockchain technology would spell the end for bureaucracies. Hence, it became imperative to inform the public of this remarkable discovery.

At the time of Banyan Hill’s creation, there was an opening for an expert on virtual currencies. Finding the appropriate individual was a tough call, primarily due to the complexity of the matter. After a thorough search, the online investment journal came across Ian King and well, the rest is history. Not only was Ian an enthusiast, but he actively participated in trading the virtual currencies.

Ian first developed an interest in cryptos after the infamous financial crisis of 2008. In 2012, he interacted with a Silicon Valley startup that was testing out a virtual currency to allow central banks to mint and distribute cryptocurrencies. While the backing by a central bank meant that the e-currency was not fully autonomous, this project enlightened Ian on how cryptos could spur the new digital age. Read more about Ian King at banyanhill.com

Before delving into the crypto sphere, King had a stint at Wall Street. Here, he worked in different capacities at Citigroup and Salomon Brothers. Ian maintains that though the asset calluses may differ, the investment behavior remains the same across the two sectors. The secret is being at the right place at the right time and capitalizing on opportunities. Similar to the dot-com era in the ‘90s, cryptocurrency holders can make enormous profits within a relatively short period.

Though the craze for virtual currencies is in full throttle and people are flooding the industry, Ian reckons that investors can still make money off crypto assets. Bitcoin might have reached its tipping point, but it still has a myriad of opportunities that investors can exploit. Ian believes that the skepticism around Bitcoin is a result of Wall Street experts arriving late to the party. Consequently, the cynical critics are labeling cryptos as a ‘fraud,’ because they have not found a way to milk profits off this industry.

Concerning the future, Ian believes that the best is yet to come. The industry is still in early stages, yet it has shown so much promise. The market capitalization is currently at $600 billion, but according to Ian’s projections, they will soon surpass the $3 trillion milestones set by the dot-com era decades ago.